The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are completely secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining gain access to private information through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add the support of more coins in the future.
In the end it is clear that the Ellipal device is an brand new player on the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product available on the market.